Royal Bank of Canada (NYSE:RY) (TSE:RY) – Analysts at Desjardins lifted their Q1 2018 earnings per share estimates for Royal Bank of Canada in a research note issued on Friday. Desjardins analyst D. Young now expects that the financial services provider will post earnings per share of $1.56 for the quarter, up from their prior estimate of $1.49. Desjardins also issued estimates for Royal Bank of Canada’s FY2018 earnings at $6.45 EPS and FY2019 earnings at $6.96 EPS.
Other equities analysts have also recently issued research reports about the company. Canaccord Genuity reiterated a “hold” rating and set a $105.00 target price on shares of Royal Bank of Canada in a report on Wednesday, November 29th. Argus increased their target price on Royal Bank of Canada to $94.00 and gave the stock a “buy” rating in a report on Friday, January 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 target price for the company in a report on Wednesday, February 14th. BMO Capital Markets restated a “hold” rating and set a $102.00 price objective on shares of Royal Bank of Canada in a research note on Wednesday, November 29th. Finally, Bank of America upgraded shares of Royal Bank of Canada from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $98.20.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, November 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. The firm had revenue of $8.42 billion during the quarter, compared to analysts’ expectations of $7.68 billion. Royal Bank of Canada had a return on equity of 17.01% and a net margin of 22.62%.
Several institutional investors have recently bought and sold shares of RY. SWS Partners acquired a new stake in Royal Bank of Canada in the 4th quarter valued at about $134,000. Delpha Capital Management LLC acquired a new stake in Royal Bank of Canada in the 4th quarter valued at about $151,000. Fieldpoint Private Securities LLC acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at about $153,000. Asset Advisors Corp acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at about $178,000. Finally, Cypress Capital Management LLC acquired a new stake in Royal Bank of Canada in the 4th quarter valued at about $204,000. Institutional investors own 41.78% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be paid a dividend of $0.7157 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.58%. Royal Bank of Canada’s dividend payout ratio is 47.18%.
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Royal Bank of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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